Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in General Dynamics Co. (NYSE:GD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in General Dynamics Co. (NYSE:GD) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,430 shares of the aerospace company’s stock after buying an additional 83 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in General Dynamics were worth $8,850,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC acquired a new position in shares of General Dynamics during the 2nd quarter worth $29,000. Kings Point Capital Management acquired a new position in General Dynamics in the 2nd quarter valued at about $36,000. TCI Wealth Advisors Inc. raised its stake in General Dynamics by 213.3% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 235 shares of the aerospace company’s stock valued at $43,000 after purchasing an additional 160 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new position in General Dynamics in the 2nd quarter valued at about $46,000. Finally, NEXT Financial Group Inc raised its stake in General Dynamics by 454.2% in the 2nd quarter. NEXT Financial Group Inc now owns 266 shares of the aerospace company’s stock valued at $48,000 after purchasing an additional 218 shares during the last quarter. Hedge funds and other institutional investors own 86.27% of the company’s stock.

GD traded up $3.11 during midday trading on Tuesday, hitting $178.56. The company’s stock had a trading volume of 21,178 shares, compared to its average volume of 1,110,480. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70. The firm has a market cap of $50.78 billion, a P/E ratio of 15.61, a PEG ratio of 1.68 and a beta of 1.20. The firm has a 50-day moving average price of $183.69 and a two-hundred day moving average price of $178.90. General Dynamics Co. has a 52-week low of $143.87 and a 52-week high of $193.76.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.09. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.36 billion. During the same quarter in the previous year, the business earned $2.82 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts expect that General Dynamics Co. will post 11.88 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, October 10th. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.

GD has been the subject of several analyst reports. Robert W. Baird boosted their target price on shares of General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Morgan Stanley lowered their price target on General Dynamics from $173.00 to $172.00 and set an “underweight” rating for the company in a report on Thursday, October 10th. Cowen set a $202.00 price target on General Dynamics and gave the company a “buy” rating in a report on Friday, August 30th. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price target for the company in a report on Monday, September 2nd. Finally, Barclays set a $215.00 price target on General Dynamics and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $193.58.

In related news, EVP Christopher Marzilli sold 32,930 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the transaction, the executive vice president now directly owns 100,557 shares of the company’s stock, valued at approximately $18,820,248.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark Lagrand Burns purchased 159 shares of General Dynamics stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $179.56 per share, for a total transaction of $28,550.04. Following the completion of the transaction, the vice president now directly owns 39,643 shares in the company, valued at approximately $7,118,297.08. The disclosure for this purchase can be found here. Insiders have sold a total of 48,459 shares of company stock worth $9,079,802 over the last three months. 7.10% of the stock is currently owned by corporate insiders.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

Further Reading: Momentum Indicators

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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